Dubai-based investment manager Beco Capital has secured a total of $15 million from International Finance Corporation (IFC), the asset management arm of the World Bank, to support venture capital funds that target Mena-based technology startups.

The Dubai Financial Services Authority (DFSA) is launching a second cohort of applicants for its innovation testing licence (ITL) programmes, which allows fintech startups to test their products within the DFSA’s sandbox.